What about this deal-- 15 units, $75000 each, $750 rent each

Deal or not?

It is in a remote small town without much growth potential, but the monthly cash flow can be positive.

Mortgage of $75,000, Mortgage payment is around $500 at 7% interest rate, $60 tax, $40 insurance, $50 maintenance. With $750 rent, if rented 100%, you can get $200 cash flow each month.

15 unit can get $3000 per month without out of pocket money. The seller can finance these units.

Am I too simple and naive?

Your opition is urgently needed! Great appreciation!

所有跟帖： 

• No money down? -montavista- ♀ (698 bytes) () 11/30/2007 postreply 10:56:43

• DDDDDD! -小小石头- ♂ (0 bytes) () 11/30/2007 postreply 11:01:20

• ddd! -芦苇葱葱- ♀ (0 bytes) () 11/30/2007 postreply 11:21:17

• No money down?-- Yes! Even cash out at closing. -va_landlord- ♂ (936 bytes) () 11/30/2007 postreply 11:21:49

• 不愧是领导，利害利害 -抛玉引砖- ♂ (0 bytes) () 11/30/2007 postreply 11:23:30

• MG, 这BZ太有才了。PFPF. -JR98- ♂ (0 bytes) () 11/30/2007 postreply 18:33:26

• 厉害啊 -dukejas- ♀ (0 bytes) () 12/01/2007 postreply 22:09:15

• Couple of considerations -miat42- ♂ (505 bytes) () 11/30/2007 postreply 10:58:42

• Reply- I haven't fully explored the deal yet -va_landlord- ♂ (1056 bytes) () 11/30/2007 postreply 11:17:58

• regarding property management -montavista- ♀ (459 bytes) () 11/30/2007 postreply 11:26:51

• Hmm! I need seriously talking with the seller -va_landlord- ♂ (63 bytes) () 11/30/2007 postreply 11:29:45

• Act now! Get the property under contract -montavista- ♀ (127 bytes) () 11/30/2007 postreply 11:32:34

• Prop management cost is a big wild card -miat42- ♂ (0 bytes) () 11/30/2007 postreply 11:32:04

• nod nod 还有很多未可知的维修费用 -芦苇葱葱- ♀ (0 bytes) () 11/30/2007 postreply 11:35:14

• No Growth Potential That's Why It's Cheap -ryanx30- ♂ (67 bytes) () 11/30/2007 postreply 12:38:14

• Vacancy and "renter default" rate -mnosense- ♂ (0 bytes) () 11/30/2007 postreply 12:47:40

• 总的看,DEAL不错,但你要想到正轨操作还是非正轨操作. -thornbird888- ♂ (258 bytes) () 11/30/2007 postreply 12:55:15

• Vacancy 10%, Property management 10% -cultuslake- ♂ (270 bytes) () 11/30/2007 postreply 16:50:13

• agree. -thornbird888- ♂ (0 bytes) () 11/30/2007 postreply 17:01:18

• Bad idea -start111- ♀ (905 bytes) () 11/30/2007 postreply 18:14:29

• totally agree. -thornbird888- ♂ (0 bytes) () 11/30/2007 postreply 19:27:34

• everything is learning. -thornbird888- ♂ (0 bytes) () 11/30/2007 postreply 19:38:42

• 好好学习, 天天向上. -山高月小- ♂ (14 bytes) () 12/01/2007 postreply 22:32:00